Spain: Manel Estany is the new general director of Cirsa

Puyol has left the company for “personal reasons”, according to sources of the sector, and was replaced by Manel Estany, who was general director of the group La Sirena. Estany will report directly to the general director of the group, Joaquim Agut.

The new Cirsa executive has a Business title and an MBA in Esade business school. Estany has a long experience in sectors of great consumption. He was director of marketing in Spain of Moët Hennesy and La Sirena, a firm in which he then became a top executive. Before incorporating to Cirsa, Estany was partner of the company Aplicca Identity Solutions.

Cirsa Gaming Corporation is the biggest Spanish multinational of gaming and leisure, and one of the main operators of the sector worldwide. The group, with venue in Terrassa (Barcelona) collected 1,220 million euros in the first nine months of 2009, with an operational benefit of 157 million, a 5% more than in the same period in 2008. Cirsa is integrated to the holding Nortia Corporation, that had incomes of 2,200 million in 2008.

The group, headed by Manuel Lao, incorporated Puyol to bring a new boost to the bingo business and gambling venues in Spain. Cirsa faces a decrease in bingo turnover, which, in 2008, showed a 6.8% decrease in Spain.

In the latest months, Cirsa has reduced its network of bingo centers in Spain, from 58 venues to the 44 current centers. The company also has 120 gambling venues in the national market. At the end of 2008, Cirsa debt was 722 million, although the 70% is comprised by bonds issued at long term maturities.